[Impressions] I only had this camera for a weekend... a weekend in which I was covering an event with my staple equipment, so I didn't really manage to test out this camera much. The expectation is that the performance of the sensor is much like the other A12 modules, as they use the same APS-C CMOS sensor, and the ISO performance does show that it is a capable performer. This module is said to have omitted the low-pass filter, which is usually introduced to reduce moire. But this omission is deliberate in wanting to allow the full characteristics of the lenses to shine through.
The M-module opens up not just the classic M, LTM and S mounts, but also FD, OM, F, etc, as adaptors from these bayonets to the M-mount are available, so the potential clientele is not limited to those with M lenses. However, focusing now not exactly down to the μm on the A12 unit, there is nothing like an aligned split prism or rangefinder to get exact focusing. That been said, here, you wouldn't have to worry about misaligned mirrors or focus-shift... what you see (magnified or otherwise) is what you get... but it might take some getting use to.
However, it did feel a little weird trying to focus with the rear LCD... to better simulate the RF or SLR experience, you would want the VF-2 as well :smilie:
I do know of ppl who have said that they sold their M9 in preference for the GXR+M module, I also know of others who have bought the GXR+M module and sold it after 1-mth, reverting back to their M bodies. Personally, I don't think that it is a replacement for a M-camera, as the experience is quite different. But the GXR Mount A12 module provides another digital (12 megapixel APS-C CMOS) alternative for your classic lenses, similar to that of the other mirrorless systems (with adaptors). Not forgetting the additional possibilities of the other A12 and P10 modules with just 1 body.
The neat features about the GXR Mount A12 over that of the other M-mount adapted systems are the contrast focus assist, the lens specific distortion correction, and the ability to write the lens characteristics into the images exif information.